What’s up everybody, it’s Thomas Bahamas and you are here for another episode of Solana Weekly where I will be breaking down what has been going down on Solana in the last week and try to figure out the long term implications.
Prices:
Sol Price: 163.15 - This weekly chart is a dream. 67% off the ATH, BTC at ATH, we will simply teleport above it.
Sol Eth: .03943 - down a bit. Eth hit a massive upgrade today with the Decun and should help with some fees, how much? We wait and see.
Sol BTC: .00215 - down a bit, New Ansem Target just dropped of .006. Think about that, Sol outperforming BTC by 3x over the next year while BTC goes up? Insanity, even if we don't 3x it, we go higher.
Speaking of Ansem, they just funded the 600k for putting Wif on that Las Vegas sphere, hilarious.
Bonk/BTC: 2.39 Billion - looking good here, Bonk is about the freaking explode on this market. Wen just hit a massive 35% day, Sol is going crazy and my guess is Bonk is next up on the hitlist.
Overall take on market: It's hot. BTC has just been coiling at ATH, about to shoot up, the BTC memers have reached mainstream, Saylor is destroying cable news calling people that save in fiat POOR, the top 30 meme coins are on Solana, meme coins are getting shilled on live tv. This is only the beginning and I'm tingling thinking about the upcoming 10x. Very pre rich.
To the market:
Memes run the market. The man the myth, NFT Nick has been out in full force and is pumping Solana along with it. The cringy, but self aware and hilarious Nick has chosen rich and is out here posting pics with rented helicopters then roasting the community noters. It's great, he chose rich, there's a token, it's bringing a ton of eyes to Solana. He was on the Barstool Sports Davey Day Trader's pod the other day and started slinging dog coins and talking solana, we love to see it. Yes a lot of this is cringey, like the Elizabeth Whoren token, but it's also a ton of fun and why not?
Depin: Hivemapper throwing out massive deals, 4000 Honey for the first 1000 miles driven once you get your dashcam. That’s over $800 at the current rate, and if this chart keeps popping probably worth a lot more in the near future.
Mobile on the move, that’s right, are you doing discovery mapping with your helium plan? If so you are not only helping the network, you are earnly somewhere around 400-700 mobile tokens per day and this coin has been up only for weeks.
Defi: Popping! Flexlend is crushing it, airdrops are coming next month and people are chasing those last minute points like their life depends on it. Thats right, Parcl, Kamino, Tensor and Drift are all closing in on finishing up their points meta to move to tokens. With the last month upon us and a lot of the token details out, TVL is exploding. And for good reason, Kamino is printing points and yield as well. If the points weren't there, these are still amazing platforms and Kamino is actively crushing the game. I always hate on their site's performance, but they have proven that their product is solid and kudos to them.
NFT's: Dead. NFT's trading experiences got so good that they started trading like memecoins. Now that we have memecoins, why trade the jpegs? Meme coins are more volatile, easier to get in and out, and have brought over more eyes than NFT's ever could. 4 million monthly active users on Phantom and Phantom is now more popular that Metamask in the app store. This is what I'm talking about and what we were dreaming of a year ago. This is the superior user experience and the feeling that we all had, and it's amazing to see it finally come true. With Tensor points coming to an end we can only hope that the bots and farming can stop, and that the NFT market can go back to enjoyers enjoying.
Protocol of the week: Kamino - get some yield while you can.
Token of the week: Nick - choose rich, buy nick. Probably not a buy anymore, but the mindshare of crypto is on Nick choosing rich and it's hilarious.
So just to recap, we have more eyes on crypto than ever before, we have more eyes on Solana than ever before, we have BTC at ATH, we simply see Solana go way past ATH. It's insane, it's going to get way more insane, let's make sure and get that bag.
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